Asian markets broadly higher on Monday than traders looked forward to the continuation of trade talks between Chinese and American officials in Washington this week.
South Korea's Kospi
SEU, + 0.67%
jumped 0.7% and the Shanghai Composite index
SHCOMP, + 2.68% rose 1.6%. Hong Kong's Hang Bed
HSI, + 1.69%
was 1.7% higher. Australia's S&P / ASX 200
XJO, + 0.39%
Japan's benchmark Nikkei 225
NIK, + 1.82%
advanced 1.8%. The country said its core machinery orders dropped 0.1% in December from the previous month, beating forecasts of a 1.1% decline. Shares rose in Taiwan
Y9999, + 0.80%
and throughout Southeast Asia
Among individual stocks, Uniqlo owner Fast Retailing
9983, + 3.90%
jumped in Tokyo trading, as did Bridgestone
5108, + 4.93%
and Japan Steel
5631, + 4.35%
. Oil producers CNOOC
0883, + 3.16%
0857, + 5.02%
rose in Hong Kong, along with tech companies Sunny Optical
2382, + 4.24%
0700, + 2.04%
005930, + 0.33%
rose in Korea, as did Taiwan Semiconductor
2330, + 1.32%
in Taiwan. Oil companies such as Woodside Petroleum
WPL, + 2.30%
BPT, + 3.18%
STO, + 1.19%
jumped in Australia
After the markets closed on Friday, China and the U.S. announced plans to summarize trade negotiations in Washington, merging that both countries were edging toward a deal
"We feel we have made headway on very, very important and difficult issues," Trade Representative Robert Lighthizer said, in a meeting with Chinese President Xi Jinping.
Xi expressed hope for "a mutually beneficial and win-win agreement," according to the official Xinhua News Agency.
days of talks in Beijing. Investors were worried about progress on thorny issues like Washington's unhappiness about Chinese technology and trade policies.
$ 200 trillion in Chinese goods. President Donald Trump has said that he could be close to a deal with China.
Optimism surrounding U-China trade talks boosted indexes on Friday. The broad S&P 500 index
SPX, + 1.09%
rebounded 1.1% to 2,775.60. The Dow Jones Industrial Average
DJIA, + 1.74%
climbed 1.7% to 25,883.25 and the Nasdaq composite
COMP, + 0.61%
rose 0.6% at 7,472.41. U.S. markets are closed Monday for Presidents Day.
CLJ9, + 0.84%
added 28 cents to $ 55.87 per barrel in electronic trading on the New York Mercantile Exchange. It added $ 1.18 to settle at $ 55.59 per barrel in New York on Friday. Brent crude
LCOJ9, + 0.57%
used to price international oils, shed 2 cents to $ 66.23 per barrel. It picked up $ 1.68 to $ 66.25 per barrel in London.
strengthened to 110.53 yen from 110.48 yen late Friday.
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